I did what I could please review and give me your answers. I was lost on section 4, 5, 6.

Thanks

The following data relate to the operations of Dillinger Company, a wholesale distributor of consumer goods:

Current assets as of March 31:
Cash	$	18,000
Accounts receivable	$	34,500
Inventory	$	17,220
Buildings and equipment (net)	$	330,000
Accounts payable	$	55,500
Capital stock	$	59,000
Retained earnings	$	285,220

a.	Gross margin is 30% of sales.
b.	Actual and budgeted sales data:

March (actual)	$ 115,000
April	$ 123,000
May	$ 152,000
June	$ 168,000
July	$ 67,000

c.	Sales are 70% for cash and 30% on credit. Credit sales are collected in the month following sale. The accounts receivable at March 31 are the result of March credit sales.
d.	Each month's ending inventory should equal 20% of the following month's budgeted cost of goods sold.
e.	25% of a month's inventory purchases is paid for in the month of purchase; the remainder is paid for in the following month. The accounts payable at March 31 are a result of March purchases of inventory.
f.	Monthly expenses are as follows: salaries and wages, $31,500; rent, $5,500 per month; other expenses (excluding depreciation), 8% of sales. Assume that these expenses are paid monthly. Depreciation is $6,000 per month (includes depreciation on new assets).
g.	Equipment costing $9,000 will be purchased for cash in April.
h.	The company must maintain a minimum cash balance of $9,000. An open line of credit is available at a local bank. All borrowing is done at the beginning of a month, and all repayments are made at the end of a month; borrowing must be in multiples of $1,000. The annual interest rate is 12%. Interest is paid only at the time of repayment of principal; figure interest on whole months (1/12, 2/12, and so forth).

Required:
Using the above data:
1.	Complete the following schedule:

2.	Complete the following:

3.	Complete the following schedule:

4.	Complete the following cash budget: (Cash deficiency, repayments and interest should be indicated by a minus sign.)

5.	Prepare an absorption costing income statement for the quarter ended June 30.

6.	Prepare a balance sheet as of June 30.

5. Prepare an absorption costing income statement for the quarter ended June 30 1. Complete the following schedule Dillinger Company Schedule of Expected Cash Collections April May June Quarter - Total $ 88,100 $ 106.400 117 6001 310.000 85 100 106,400 117 600 310,100 $ $ 172,200 $ 212,800 $ 235,200 $ 235,200 $ 620,100 $ Cash sales Credit sales Total collections 443,000 6. Prepare a balance sheet as of June 30, Dillinger Company Income Statement For the Quarter Ended June 30 Sales Cost of goods sold Beginning inventory 443,000 Purchases 310,100 Goods available for sale 753, 100 Ending inventory 253,530 Gross margin Selling and administrative expenses Depreciation 18.000 Rent 16,500 Other expenses 35,440 Salaries and wages 94,500 Net operating income Interest expense Net income 499 570 (56,570) 2. Complete the following: Dillinger Company Balance Sheet June 30 Assets 164,440 (221,010) 150 $ 221,160) $ Dillinger Company Merchandise Purchases Budget April May June Quarter. Total $ $ 86,100 $ 106.4001 s $ 117,600 s 310,100 21,200 23.520 9,380 9,350 107300 120.920 126 980 319,480 17220 21 280 23.520 17220 $ 90, 160 108 640 $ 103 480 302,260 Budgeted cost of goods sold Add desired ending inventory Total needs Less beginning inventory Required purchases Current assets Cash Accounts receivable Inventory 9,345 50,400 9,380 4. Complete the following cash budget: (Cash deficiency, repayments and interest should be indicated by a minus sign.) 69,125 321,000 $ 390, 125 Dillinger Company Cash budget April May 18,000 $ 9.720 s 120,600 143 300 138,600 153 020 Dillinger Company Schedule of Expected Cash Disbursements-Merchandise Purchases April May June Quarter - Total March purchases $ 55,500 5 of s os 55,500 April purchases 22.540 67,620 0 90,160 May purchases 27 160 81.480 108,640 June purchases 25 885 25,865 Total disbursements $ 78 040 $ 94 780 $ 107 345 $ 280,165 $ June Quarter - Total 9,080s 18,000 163,200 427,100 172,280 445 100 $ 77,595 Total current assets Buildings and equipment-net Total assets Liabilities and Stockholders' Equity Current liabilities : Accounts payable Stockholders' equity Capital stock Common stock 59,000 Retained earnings 253,530 Total liabilities and equity 94.780 49 160 Cash balance, beginning Add cash collections Total cash available Less cash disbursements For inventory For expenses For equipment Total cash disbursements Excess (deficiency) of cash Financing Borrowings Repayments Interest Total financing Cash balance, onding 78,040 46,840 9,000 133,880 4.720 0 107,345 50.440 0 157.785 14,495 280 165 146,440 9,000 435,605 3. Complete the following schedule: 312,530 $ 390,125 143,940 9.080 9,495 0 5,000 ( 5000) 5,000 0 0 5,000 9,720 $ 0 of 0 9,080 $ 0 ( (5,000) (150) (5 150) 9,345 $ Dillinger Company Schedule of Expected Cash Disbursements-Selling and Administrative Expenses April May June Quarter - Total Salaries and wages S 31,500 5 31500s 31,500 5 94.500 Rent 5,500 5.500 5,500 16,500 Other expenses 9,840 12. 160 13,440 35.440 Total disbursements S 46,840 S 49.160 $ 50,440s 146.440 (150) (150) 9,345 10 $ 5. Prepare an absorption costing income statement for the quarter ended June 30 1. Complete the following schedule Dillinger Company Schedule of Expected Cash Collections April May June Quarter - Total $ 88,100 $ 106.400 117 6001 310.000 85 100 106,400 117 600 310,100 $ $ 172,200 $ 212,800 $ 235,200 $ 235,200 $ 620,100 $ Cash sales Credit sales Total collections 443,000 6. Prepare a balance sheet as of June 30, Dillinger Company Income Statement For the Quarter Ended June 30 Sales Cost of goods sold Beginning inventory 443,000 Purchases 310,100 Goods available for sale 753, 100 Ending inventory 253,530 Gross margin Selling and administrative expenses Depreciation 18.000 Rent 16,500 Other expenses 35,440 Salaries and wages 94,500 Net operating income Interest expense Net income 499 570 (56,570) 2. Complete the following: Dillinger Company Balance Sheet June 30 Assets 164,440 (221,010) 150 $ 221,160) $ Dillinger Company Merchandise Purchases Budget April May June Quarter. Total $ $ 86,100 $ 106.4001 s $ 117,600 s 310,100 21,200 23.520 9,380 9,350 107300 120.920 126 980 319,480 17220 21 280 23.520 17220 $ 90, 160 108 640 $ 103 480 302,260 Budgeted cost of goods sold Add desired ending inventory Total needs Less beginning inventory Required purchases Current assets Cash Accounts receivable Inventory 9,345 50,400 9,380 4. Complete the following cash budget: (Cash deficiency, repayments and interest should be indicated by a minus sign.) 69,125 321,000 $ 390, 125 Dillinger Company Cash budget April May 18,000 $ 9.720 s 120,600 143 300 138,600 153 020 Dillinger Company Schedule of Expected Cash Disbursements-Merchandise Purchases April May June Quarter - Total March purchases $ 55,500 5 of s os 55,500 April purchases 22.540 67,620 0 90,160 May purchases 27 160 81.480 108,640 June purchases 25 885 25,865 Total disbursements $ 78 040 $ 94 780 $ 107 345 $ 280,165 $ June Quarter - Total 9,080s 18,000 163,200 427,100 172,280 445 100 $ 77,595 Total current assets Buildings and equipment-net Total assets Liabilities and Stockholders' Equity Current liabilities : Accounts payable Stockholders' equity Capital stock Common stock 59,000 Retained earnings 253,530 Total liabilities and equity 94.780 49 160 Cash balance, beginning Add cash collections Total cash available Less cash disbursements For inventory For expenses For equipment Total cash disbursements Excess (deficiency) of cash Financing Borrowings Repayments Interest Total financing Cash balance, onding 78,040 46,840 9,000 133,880 4.720 0 107,345 50.440 0 157.785 14,495 280 165 146,440 9,000 435,605 3. Complete the following schedule: 312,530 $ 390,125 143,940 9.080 9,495 0 5,000 ( 5000) 5,000 0 0 5,000 9,720 $ 0 of 0 9,080 $ 0 ( (5,000) (150) (5 150) 9,345 $ Dillinger Company Schedule of Expected Cash Disbursements-Selling and Administrative Expenses April May June Quarter - Total Salaries and wages S 31,500 5 31500s 31,500 5 94.500 Rent 5,500 5.500 5,500 16,500 Other expenses 9,840 12. 160 13,440 35.440 Total disbursements S 46,840 S 49.160 $ 50,440s 146.440 (150) (150) 9,345 10 $